Clinton wants to expand on ‘Buffett rule’ taxing the rich at 30 percent

[Recoverin_Republican]

https://www.washingtonpost.com/news/post-politics/wp/2015/12/16/clinton-wants-to-expand-on-buffett-rule-taxing-the-rich-at-30-percent/

Hillary Clinton is hoping that Warren Buffett’s reputation for picking winners extends well beyond the boardroom. The “Oracle of Omaha” endorsed Clinton on Wednesday in, where else, Omaha, as she pledged to seek further tax increases on the very wealthy.

Clinton said as president she would expand on the Obama administration tax proposal nicknamed for the billionaire investor, who maintains that very rich people like himself are taxed too little. The “Buffett rule” would require that people earning more than $1 million annually be taxed at a minimum of 30 percent.

"I want to go even further, because Warren is 100 percent right, as usual," the Associated Press quoted Clinton as saying at a rally with Buffett. "I want to be the president for the struggling, the striving and the successful."

She offered no details of how she would expand on the 30 percent goal, including where she would set the top tax rate for individuals. Her campaign said specifics of her tax plan will be released in phases over the coming weeks.
(more)

[JaneyVee]

1. K AND R! Tax the rich, not the middle class and poor.

[orpupilofnature57]

2. NOW!!!! Not in 2008 and how will she censure the people she's always scratched to be ?

[BlueMTexpat]

3. I do not understand this comment at all. eom

[orpupilofnature57]

10. She has voted for the Rich All her life, War, Bail-outs and loop-holes .

[BlueMTexpat]

16. You are yet another self-styled

liberal who repeats GOPer TPs to smear a Dem candidate.

If you take a look at the polls, you'll see that your tactics are not working. In fact, they are hurting your candidate.

If you don't want to believe me, fine. But you have outed yourself as someone who will help the GOPers smear. So I won't be answering you again.

[orpupilofnature57]

17. Hide behind Polls & Platitudes, Donald and Hillary are both Ruling MSM, so are they the same, Yes

The Independent from Vermont is the only Democrat in the race .

[Motown_Johnny]

4. Sure she does, now that the Iowa Caucus is less than 50 days away.

What will she want once she secures the nomination?


I am betting it is not the same as what she says she wants now.

[beam me up scottie]

5. She'll veer back to the right so fast everyone on the bus will get whiplash.

[YOHABLO]

7. Yep! And all of her supporters will be stunned. She'll lose the Democratic Progressive base for good

[RoccoR5955]

6. Didn't Bernie say that YEARS ago?

Or am I suffering from some sort of delusion?

[orpupilofnature57]

12. No Delusions, He's light years ahead in the poll, known as history .

[beam me up scottie]

15. He co-sponsored the bill:

The Buffett Rule
Wednesday, February 1, 2012

People making more than $1 million a year should not pay a smaller share of their income in taxes than middle-class families pay. The White House has called that concept the Buffet Rule, named for Warren Buffett, the billionaire investor. It is unfair, Buffett has said, that he pays a smaller tax rate than his secretary. Debbie Bosanek, Buffett's secretary, joined Michelle Obama in the first lady's box during the State of the Union speech last month when President Obama laid out proposals to make the tax code fairer. Under legislation introduced Wednesday in the Senate, those whose incomes come mostly from investments or hedge-fund partnerships, now taxed at 15 percent, would owe more. Sen. Bernie Sanders is an original cosponsor of the bill that would make the wealthiest Americans pay their fair share and help reduce the national debt.

"With a record-breaking $15 trillion national debt and a growing gap between the very rich and everyone else, it is absolutely absurd that the wealthiest people in the country are paying the lowest effective tax rate in decades," Sanders said. "There is no excuse for millionaires and billionaires to have an effective tax rate lower than middle-class families. If we are serious about addressing this deficit crisis, it is imperative that we have a tax system which is fair and which asks the wealthiest people in our country to pay their fair share."

The Paying a Fair Share Act would apply to taxpayers with incomes of more than $1 million - including capital gains and dividends. Taxpayers earning over $2 million would be subject to a 30 percent minimum federal tax rate. The tax would be phased in for incomes between $1 million and $2 million, with those taxpayers paying a portion of the extra tax required to get them to a 30 percent effective tax rate. The bill includes language to preserve incentives for charitable giving.

The chief sponsor is Sen. Sheldon Whitehouse. "As we continue working to restore our economy," he said, "it's more important than ever to make sure all Americans are paying their fair share toward our nation's success - and right now that just isn't happening. It's inexcusable that our tax system permits the wealthiest among us to pay a lower tax rate than a truck driver or a janitor, and this legislation would help fix that unfair system."

In addition to Sanders, other cosponsors are Sens. Daniel Akaka, Mark Begich, Richard Blumenthal, Tom Harkin and Patrick Leahy. "As we grapple with large budget deficits worsened by the Bush tax cuts and two wars overseas, it is just common sense that those who have benefitted the most shoulder their fair share of the burden," Leahy said.

http://www.sanders.senate.gov/newsroom/recent-business/the-buffett-rule

[monmouth4]

8. Isn't she special?...n/t

[orpupilofnature57]

13. She's ambiguous, on that you can always rely on .

[lunamagica]

9. K&R. Love it! Go Hillary!

[NCTraveler]

11. K&R nt

[mcar]

14. Go Hill!

Great plan. Great endorsement!